simple yet effective breakout strategy
Info
The simple yet effective breakout strategy is a Expert Advisor for MetaTrader 5 that the basic premise of the strategy:buy/cover as soon asthe price breaks above n bars high short/sell as soon asthe price breaks below n bars low backtested on usdjpy 2013-2023, let's see if you can improve the results even further. i hope you find values in this script.
Usage
This tool is typically used for breakout trading when price moves beyond key support/resistance levels.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use simple yet effective breakout strategy
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
the basic premise of the strategy:buy/cover as soon asthe price breaks above n bars high short/sell as soon asthe price breaks below n bars low backtested on usdjpy 2013-2023, let's see if you can improve the results even further.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: Simple EMA Cross Expert Advisor with Stop Loss, Take Profit, and Magic Number - another powerful expert for MetaTrader 5 traders.
Also recommended: simple moving average (ma) expert advisor - similar expert with strong performance on MetaTrader 5.
the basic premise of the strategy:buy/cover
as soon as
the price breaks above n bars high
short/sell
as soon as
the price breaks below n bars low
backtested on usdjpy 2013-2023, let's see if you can improve the results even further!
i hope you find values in this script.
Source Code
#property copyright "RobotFX"
#property version "1.00"
#include <Trade/Trade.mqh>
string input aa = "------------------SETTINGS----------------------";
string input BOT_NAME = "BreakoutStrategy";
int input EXPERT_MAGIC = 1;
string input bb = "-------------------ENTRY------------------------";
int input ENTRY_PERIOD = 20;
int input ENTRY_SHIFT = 1;
string input cc = "--------------------EXIT------------------------";.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.